MALTA — GlobalFoundries is dismissing the idea that work has stopped at its $4.6 billion computer chip factory in Saratoga County, calling such talk "rumors" and "speculation."

For the past several weeks, the Times Union has heard from a variety of sources that the company has warned contractors to prepare for a possible work stoppage at the state-supported project, including the construction of Admin 2, the second administrative building at what's known as Fab 8.

GlobalFoundries spokesman Travis Bullard said work continues, and that the company is on target to process its first wafers early next year.

"I can confirm that we have not announced any changes to our plans for the Fab 8 campus or the Admin 2 project," Bullard said.

Bullard said the first wafers will run through the production line early next year, with full-volume production expected in 2013. He said that Admin 2, which is expected to house hundreds of engineers, will be ready for occupancy in August 2012.

"We are confident we will be able to continue with the ramp of the Fab 8 project in order to successfully meet our customer commitments," Bullard said.

LeChase Cos. of Rochester, the general contractor on Admin 2, said work hasn't been delayed.

Admin 2 is adjacent to the main factory buildings, which are being built by another company, M+W U.S., out of Watervliet.

Rumors have been so prevalent that Saratoga County Supervisor Anita Daly, R-Clifton Park, who chairs the economic development committee, spoke about them Wednesday to the supervisors.

Daly told the Times Union she assured committee members there has been no work stoppage at Fab 8 or funding ssues. "They are on track with the building," she said she told them.

GlobalFoundries, whose majority owner is the government of Abu Dhabi, has stressed in recent months its support of the Fab 8 project and other work at its facilities in Germany and Singapore despite putting plans for a factory in Abu Dhabi on hold over the summer. Fab 8 has 1,000 employees now and expects 1,500 by the end of 2012, the company says.

The Fab 8 project is getting nearly $1.4 billion in cash and tax subsidies from the state, including $665 million in cash. GlobalFoundries has received the bulk of that cash, but it has spent more than $1 billion of its own money on top of that so far.

Officials at Empire State Development, the state agency that is responsible for the aid package, did not return requests for comment.

GlobalFoundries has had trouble making certain cutting-edge chips for its largest customer, Advanced Micro Devices, leading to speculation about how that would impact the Fab 8 project. But those problems have occurred at GlobalFoundries' semiconductor plant in Germany. The New York fab has been designed to handle even more sophisticated chips.